The global soft ferrite core material market size is expected to reach US$1.88 billion in 2029
Release time: May 28,2024
The global soft ferrite core materials market is expected to reach US$1.88 billion in 2029. This data is based on the latest report "Global Soft Ferrite Core Materials Market Report 2023-2029" by the QYResearch research team. The report pointed out that in the next few years, the global soft ferrite core materials market will have a compound annual growth rate (CAGR) of 1.4%.
Specifically, this market size forecast reflects the wide application of soft ferrite materials in multiple fields, such as electronics, electricity, information, machinery, transportation, new energy, medical and health, and national defense and military industries. As an important basic material in the production process of the national economy, the demand for magnetic materials continues to grow globally.
In terms of geographical distribution, the changes in the Chinese market in the field of soft ferrite core materials are particularly significant. Relying on its resource and labor advantages, as well as the supporting support of the industrial chain and market, China has developed into a major production base and sales market for magnetic materials in the world. It is expected that in the future, China's soft ferrite production will grow at a rate exceeding the world average, with an average annual growth rate of 10%.
In addition, in the field of wireless charging, soft ferrite core material is a key component, and its market size will also grow with the popularity of wireless charging technology. According to a report by QYResearch, the global soft ferrite core market for wireless charging is also expected to maintain a stable growth trend.
To sum up, the global soft ferrite core materials market is expected to reach US$1.88 billion in 2029, mainly due to the widespread application of magnetic materials around the world, the strong growth of the Chinese market, and emerging technologies such as wireless charging push.
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